Bank of Canada may cut interest rates again in July if inflation continues to decrease.
Economists predict that the Bank of Canada could cut interest rates again in July if inflation continues to cool. Following the central bank's recent rate cut, Tuesday's report from Statistics Canada is expected to provide the first inflation reading after the cut. BMO and TD forecast Canada's annual inflation rate to slow to 2.6% and 2.5% respectively, down slightly from 2.7% in April. Economists say that the new data could set the stage for another rate cut in July.
June 23, 2024
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